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’The Buffett rule
How do you buy $10b.7n worth of stock in a big blue chip like IBM without alerting the market?
The WSJ’s Deal Journal has one answer. You cut a deal with the SEC:
Check out the footnote to Buffett’s latest disclosures of his investment holdings released by the SEC:
Snap news
Breaking pre-market news on Thursday,
- Melrose increases its offer for Charter International to 850p per share — statement and statement.
- UK house prices drop 0.6 per cent in August, biggest fall since October 2010 — Nationwide.
HP’s remarkably generous offer
HP’s offer for the company represents an excellent outcome for Autonomy shareholders, particularly in the current phase of stock market volatility.
The view of one City analyst on Friday morning. And it’s hard to disagree.
UK M&A wrap
John Whittaker has responded to the stake-building efforts of Warren James Holdings.
The billionaire property developer has been able to declare his £96m offer for film studio Pinewood Sheppterton unconditional as to acceptances on Friday morning,
Adventures in de-equitisation
The latest corporation looking to take advantage of the yawning gap between earnings yields and (after tax) debt yields is IBM.
Via Reuters:
IBM SAYS AUTHORIZED $10 BILLION IN ADDITIONAL FUNDS FOR
About those Yahoo buyout rumours
Shares in Yahoo are blazing in pre-market trading:
That’s $17.21 per share versus a Wednesday close of $15.25 per share …
…after the Wall Street Journal reported that several private equity companies are mulling bids:
Snap news
Breaking pre-market news on Wednesday,
- Cadbury battle ends with midnight handshake – FT, publication of offer.
- IBM Consulting sales fall 2.8 per cent to $4.58bn – statement.
- Address by Mervyn King to the University of Exeter Business Leaders’ Forum – speech.
[Galleon] “I’ll be like Martha ……. Stewart” – FBI cracks alleged Rajaratnam ring
Okay, this looks like a big one. The FBI and other US enforcement agencies on Friday moved against an alleged insider dealing ring stretching from Wall Street to Silicon Valley, by way of Bear Stearns,
US probes mainframes market
The US Department of Justice has begun a preliminary investigation of the mainframe computer market, potentially drawing fresh scrutiny of dominant mainframe maker IBM more than half a century after US regulators first took action to curb its power.
Snap news
Breaking pre-market news on Tuesday,
- Rio Tinto sells Alcan Composites to Schweiter Technologies for $349m – statement.
- Ofcom says ITV network licence is no longer sustainable by 2012 – statement.
Oracle in $7.4bn swoop on Sun
Oracle chief executive Larry Ellison unveiled a surprise $7.4bn agreed offer for Sun Microsystems on Monday. The deal, at $9.50 a share in cash, came two weeks after IBM’s failed bid for Sun and threw the spotlight onto Sun’s Java,
IBM and Sun deal talks stall
IBM’s talks over a deal to acquire Sun Microsystems, a rival computer maker, have run into significant obstacles and the companies are no longer expected to produce an agreement by Monday, the FT reported,
IBM, Sun, near deal at lower price
IBM and Sun Microsystems are in final stages of talks to combine the two computer giants but at a lower price than initially discussed, reports the WSJ. Under the proposal, IBM would pay $9.55 a share – or about $750m – for Sun,
IBM set to cut 5,000 jobs
IBM, which has the largest workforce in the US technology sector, is set to lay off about 5,000 staff in its North America operations. The company, which declined to comment, is expected to tell staff of the job losses on Thursday.
IBM in $6.5bn move for Sun
IBM is in advanced talks to acquire rival Sun Microsystems for roughly $6.5bn in cash, in a deal that could trigger wider consolidation in the technology industry. The two companies were in talks Wednesday on the deal – which would value Sun at about $10 per share,
Companies cut 76,000 jobs in a day
Corporate bellwethers in the US and Europe slashed more than 76,000 jobs from their payrolls on Monday. US corporate groups such as Caterpillar, General Motors, Sprint Nextel, Texas Instruments, and Home Depot led the retreat,
Lenovo shares dive on IBM sale
Shares of top Chinese PC maker Lenovo Group fell more than 5% after a broker downgrade and a sale of the company’s shares by IBM, reports Reuters. Lenovo shares were set to open at HK$5.3 on Tuesday, compared with their previous close of HK$5.58,
IBM starts $15bn share buy-back
IBM, the world’s second-biggest IT group, on Tuesday sought to boost returns to shareholders by authorising $15bn in new share buy-backs, with $12bn earmarked for this year. The move comes as the technology sector is bracing for a slowdown in sales growth amid concerns about a potential US recession.
IBM in $1.6bn emerging markets drive
IBM is set to spend $1.6bn over the next three years as its hunt for growth takes it to smaller markets in the emerging world that have not previously been a focus of its efforts, according to an internal memo from Sam Palmisano,
IBM in $5bn cash deal for Cognos
IBM unveiled its biggest acquisition on Monday with the $5bn cash purchase of software maker Cognos. The deal marks Big Blue’s response to the rapid consolidation of the business intelligence software market,
IBM in cash bid for Sweden’s Tele-logic
IBM on Monday launched a Skr5.2bn ($743m) recommended cash offer for Tele-logic of Sweden, a seller of software development tools used for creating the “embedded” software used in aircraft, automobiles and other complex systems.
The short life and sudden death of IBM’s ‘Killer B’ tax break
America’s ever-vigilant Internal Revenue Service puts new meaning into the word “spoilsport”, leaping to close a corporate tax loophole just two days after IBM used it to save an estimated $1.6bn on its tax bill,